Friday, June 01, 2012
Down 212, Nasdaq down \60 and the MLP index is down over 8 points. All important support levels appear to be breaking. The Dow is now down for the year. The tape is not looking good. And with the 10 year dropping under 1.50% and mlps selling off hard, we are seeing yield spreads here blowing out to levels not seen since 2008. These are not good signs.